The Kerala High Court on Thursday made some pertinent observations regarding the plight of people who invest their money in co-operative society banks and fail to get their deposits back [Chandanapally Service Cooperative Bank v. Rosamma Rajan]..Justice Devan Ramachandran, who sits over the jurisdiction hearing matters related to co-operative societies, observed that people who use such institutions in Kerala often do not get their money back. "Kerala is the no.1 in the world in this. You (co-operative bank) will not return the money. People like you (creditors) who go and deposit money and other instruments in co-operative societies stand to lose money. There is no doubt about it", the judge said. He opined that people use such banks to indicate their political affiliation to the parties that control the co-operative societies."Even today people are going and depositing in co-operative societies. That is one of their ways of showing their allegiance to their political party. As long as this continues nothing can happen. No court can help you, nothing can come to your aid when this is how the system functions. You lose your money," the judge orally observed. Justice Ramachandran also drew parallels between co-operative banks and "blade companies", a phrase for ruthless informal money lenders.The judge explained that he is pained to see this happening in his State but that the Court's efforts in helping unfortunate citizens who use such banks, are often fruitless. "I am concerned about what is happening in my State. I am in love with this State and I can see where this is going. It is easy for us judges to dispose of these matters just saying there is an alternate remedy. But I am not doing it because I can see the plight of the ordinary people who are in front of me. And there is absolutely no support from the stakeholders to the High Court. If a judge writes a judgment in favour of a common man, the attack is that the judge has some other political affiliation," Justice Ramachandran orally remarked. He added that had Kerala been a true welfare state, the State government would have stepped in to aid those who have lost money to co-operative banks. "The fact is that you (the co-operative bank) have squandered the hard earned money that people gave. A welfare state should have stepped in. This is the life of ordinary people. Why is it that the authorities have no heart at all?" he said..The Court made these observations while considering a review petition moved by Chandanapally Service Cooperative Bank against an order directing it to return proceeds of the fixed deposit of one Rosamma Rajan. The bank blamed the government and its agencies for not recovering money for them, fixed against its earlier Secretary, who allegedly misappropriated large sums.Justice Ramachandran today deprecated the bank for its stance and adjourned the matter for hearing on June 19. "Common man has no support in this State. You (petitioner) unfortunately have the common man tag. Find yourself a political affiliation, maybe then you will get your money. How many people in Kerala are suffering because they can’t get their fixed deposits back. We are powerless now," the judge remarked as the hearing drew to a close. .The bank was represented by advocates Manu Ramachandran, TS Sarath, M Kiranlal, Sameer M Nair, R Rajesh, Sailakshmi Menon, Jothisha KA and Shifana M.Rosamma Rajan was represented by advocates Susanth Shaji, Sidharth O, and Albin A Joseph.
